Summer To Do List

Tue, 10 Jun 2014 02:42:41 +0000

I’m well aware the summer is sacred and should be filled with all things fun and making some dollars as well. Unfortunately there are a few important things that should be added to your summer to do list that really aren’t that fun but definitely necessary. Recently after reading a great blog post about Student Loans by Latisha at Young Finances I realized student loans should be on my to do list ASAP.

Summer To Do List – The Necessary but Boring Stuff

1. Check in on your student loan totals

Especially as a recent grad this is critical, you need to figure out exactly what you owe and when interest will start accumulating. For some reason the website that I used every year to apply for OSAP is not the same place I use to figure out my total loan due…thanks for the confusion. For all Canadian students, check out the National Student Loans Service Centre, make an account and figure out the total you owe and your loan status. You don’t want any surprises.

2. Budget

Yup, I went there. I know from my previous summers that as soon as I start bringing in money from my summer job, spending limits go out the window. Make sure you figure out how much you need for the school year..and be realistic, and make sure you put that money away. Also take into account that you may want to travel after graduation, the more in advance you start saving the more money you’re likely to have.

3. Check-in on your bank account

For those that have recently graduated your student bank account may expire/change. When this happens you’re likely going to have fewer monthly debit transactions, and fees! Keep on top of this because you don’t want to lose money on fee’s you could have avoided.

4. Take a Summer Course

If you either want to get ahead or have fallen behind a summer course might be a really good option for you. This means studying, doing homework, midterms and exams, but in the end it’s all for the best.

I’m sure the list could go on, but I don’t want to overwhelm anyone here. Keeping track of things like student loans and your bank accounts will definitely help save you hundreds of dollars in interest or fee’s. It’s not fun but having that not so fun summer to do list is key to financial awesomeness.

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Summer Spending Tips

Tue, 21 May 2013 19:33:45 +0000

It’s not even summer yet and I’m already trying to come up with ways to cut down costs. After spending way too much money over the last week by going out to a variety of pubs, restaurants and clubs/bars I have decided that I really need to cut back on both my nights out and/or my alcohol expenditure. Now I know most of you may be thinking you’re crazy, it’s not even summer yet and you’re already becoming less fun. The reason being is that I’ve done some rough estimates for what money I need saved for the remainder of my university of career, and it’s not a small number. So I’ve decided to compile some great summer spending tips. Some are simple, and some slightly less fun. But there definitely is some give and take when you need a certain amount of money come September and whether or not that 1 night our, or that extra outfit was really worth the money you spent.

1. Don’t Go Out More Than Once a Week

Now this may sound super lame, or really just not fun in general. But think about it…your body and your wallet will thank you when you decide on 1 really fun night out with friends, set a spending goal for yourself and don’t whip out your credit card. Instead bring out a set amount of cash you want to spend for the night, try and take public transit whenever you can (I’m starting to realize just how expensive downtown Toronto is bar and drink wise, let alone the cost of a taxi home) and try to pre-drink with friends as much as possible.

2. Use Your Patio at Home

Especially when the weather gets warm, the first thing everyone wants to do is find a nice patio and drink with friends. As a student, I suggest your own patio and a case of beer from the beer store instead. Even a cheap pitcher of beer can run you around $10-15 each and your probably not just going to get one. Consider pre-drinking or patio drinking at home, and then heading out for a night. It will save you a lot more money, you will still get your tan on and save some serious $’s in the process.

3. Plan a Few Fun Weekends-Quality, not Quantity

Summer is the time for great long weekends that you can spend with friends and maybe head up north or to a cottage. It’s better to plan a few really fun weekends then going out 3 times a week all summer. It’s likely that you won’t enjoy yourself as much if you do the same thing every night of the week versus a unique cottage experience with a group of great friends. Think quality not quantity when it comes to summer fun, you definitely will enjoy those big weekends more.

Share your summer spending tips below!

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